Vedanta Strikes Gold: Snaps Up Two Critical Mineral Blocks

Vedanta Ltd has achieved a significant milestone by securing two crucial mineral blocks from the Ministry of Mines. The company has been declared the 'preferred bidder' for the Gollarahatti-Mallenahalli Nickel Chromium and PGE Block in Karnataka, and the Genjana Nickel, Chromium, and PGE Block in Bihar. This announcement was made in a recent filing to the Bombay Stock Exchange (BSE).

The Gollarahatti-Mallenahalli Block in Karnataka is currently at the G4 level of exploration, which denotes the reconnaissance survey phase. In contrast, the Genjana Block in Bihar is at the G3 level, indicating preliminary exploration. These stages are part of a four-phase process, which also includes general exploration (G2) and detailed exploration (G1).

The successful acquisition of these blocks is part of the second and third rounds of the critical minerals auction conducted by the Ministry of Mines. This strategic move strengthens Vedanta's position in the critical minerals sector, enhancing its portfolio and future growth prospects.

News by Rahul Yelligetti